Tag Archive: ounce

Stock Market Bull Market

By jscreationzs

We received news of a huge Hurricane heading to the east coast last week. It had 55 million people in its path. They name it, Irene.

The media told all of us that it could be a big one and could cause a lot of death and destruction. Although it caused a lot of destruction, it was far less than expected. I am here in Queens, New York and I can honestly say that I didn’t even see the storm as a hurricane. I know a lot of people would disagree, but my placement in New York was perfect because the Hurricane barely did damage.

Since Hurricane Irene didn’t cause much damage, the Stock Markets rallied. The damage was far less than previous expected and today investors felt good about the market. This good news came just a few days after FED Chairman Bernanke gave good news about the growth in the US Economy and said that we were going on the right path. With these two factors, the stock market rallied in every sector today.

The Dow Jones Industrial Average soared 254 points today finishing at 11,539 points. We are closing in on the 12,000 mark with the Dow Jones and I hope that the momentum continues throughout the rest of the week so that we can hit that 12,000 mark that we haven’t seen for weeks.

The NASDAQ Composite jumped more than 3.3% today with a gain of 82 points, finishing off at 2,562. The NASDAQ is getting close to its 52 week high of almost 2,900 and hopefully it does. It will signal a great time for the economy because it will truly point towards the fact that it is growing.

The S&P 500 saw a gain of 33 points finishing off at 1,210. And the New York Stock Exchange (NYSE) saw a gain of more than 204 points finishing off at 2,450.

The stock market saw gains everywhere.  Even the price of gold grew from when I reported it’s price Friday evening. I reported that the price of gold was about $1,781 an ounce in my article titled “Stocks Rally After Positive Outlook by FED Chairman Bernanke” on Friday. At this moment, Gold is at a steady $1,786 an ounce. As I mentioned last week, it seems that the price of gold is stabilizing. It has been around this price for days now. It has fluctuated greatly over the weekend, mostly because of Hurricane Irene, but it always goes down to the high $1,700 mark. And since Friday evening, Gold has only gained $5. It could mean that investors are putting their money in stocks and not Gold because they believe the price of gold will not go back up.

I believe that the price of gold will continue to fluctuate over the rest of the week. The price of gold is still very volatile and it can go up and down in huge amounts in short periods of time and without warning. I also believe that the overall average price of gold will continue to drop as the year passes. Lately, we’ve been around the $1,780 mark, and the average price should keep going down as investors see that the price of gold capped out at just over $1,900 less than 2 weeks ago and that the US Economy is on the right track to recovery.

Since I’ve been keeping my eye on Universal Display Corporation (PANL), I’ll give you an update. Today, it was one of the few stocks to actually go down. It only went down $0.49 a share. However in after hours trading, PANL saw another rise of $4.68 per share, or just over 9%. Earlier this evening, PANL has announced that they have made an agreement to work with Panasonic Idemitsu OLED Lighting Co. Ltd. Cooperation between companies is usually a positive thing and this time it was. Investors saw the opportunity  Universal Display Corporation (PANL) has given them because they just opened up to more revenue as the year passes. And now it’s that much closer to it’s 52 week High and I believe it will hit it and maybe surpass it this week if its momentum keeps up.

Overall, Today was a great day for the stock market. Let’s hope it continues for the rest of the week because the US Economy definitely needs a break after what it went through the last half of the summer. We almost went the other way with Hurricane Irene and we probably would have if the damage was any higher. I’m glad that Irene didn’t cause as much damage as previously thought and I hope that all of you and your families are safe!

The Increase in the Stock Market

By jscreationzs

After the Market Tumbled After 3 Days of Rallying yesterday, we saw a great positive sign today. As we had all hoped, Federal Reserve Chairman Ben Bernanke made a positive announcement today saying that he predicts US Growth in the coming future. He said that the US Economy is on the right track for a long term economic growth and I hope he is right. It’s about time the US economy bounces back from the recession we have been seeing lately. Just this past month alone made the markets almost unbearable.

Bernanke hasn’t mentioned anything about any plans the Fed may take to boost further the US Economy. It may be because he believes that the economy does not need any more catalysts in the mix. If the economy grows in the future on it’s own, then that’s the best thing any investor can hope for. Bernanke admitted that the recovery has been slower than expected but he also said that it is happening and any growth is better than no growth at all.

As a result of the announcement, the stock market has been rallying so far. Currently the Dow Jones Industrial Average is up more than a 140 points and the NASDAQ Composite up more than 56 points already. The S&P 500 is up more than 17 points and the New York Stock Exchange (NYSE) up more than 92 points so far.

I think this announcement will keep the markets on a positive side for the rest of the day. The announcement has put hope back into the minds of investors after the sell offs that occurred yesterday after some worries of the announcement. I believe that the momentum will carry over to the markets next week and we will get ever so much closer to the 12,000 mark in the Dow Jones, a mark we haven’t seen all month.

Even though the stock market has been rallying today, the Price of gold has increased as well. Yesterday I reported that the price of gold was at $1,769 an ounce. So far today it has seen some gains. Currently gold is at $1,781, about $12 more than what it was yesterday. It seems as if the price of gold has almost stabilized around this point. It hasn’t been as Volatile  as it has been over the weeks prior to the market’s rallies of this week. If the markets keep rallying next week, I believe that gold will go down. It may not go down to the level it was at the beginning of this year that quickly, but it will go down. We expected gold to get past the $2,000 an ounce mark but the markets have kept it at bay. The $2,000 mark isn’t very impossible. All we”ll need is another incident in the global economy and I’m sure we’ll see gold sky rocket again.

But for now, the markets are doing very well, and gold price is steady. Certain stocks have been doing great as well. Apple Inc. (AAPL) has been going down for the past few days, but today, Apple stocks have risen more than 2%, or just over $8. It is a result of the Bernanke announcement as well as investors getting used to the fact that Steve Jobs is gone and Tim Cook is in charge.

There are still more than 3 hours left until the markets close for the day (unless you’re gold), so anything can happen. I believe we will stay in the “rally” zone and hopefully by the end of the day, we will see bigger gains.

As I predicted at the end of last week, when the stock market goes down heavily in a short period of time, it’s due to bounce back to correct itself. The Stock Market today sees a small gain, unfortunately, the gain is very small.

The Dow Jones Industrial Average increased just 37 points at the closing bell, increasing to 10,854. It is still under the 11,000 mark. It actually saw the 11,000 mark today with a day high of 11,020. When it hit the 11,000 mark earlier today, it seemed as if the market will keep rallying, but tensions in the economy, especially in the financial sector, has brought things down.

The Nasdaq Composite only gained just over 3 points today. And the S&P 500 gained just 0.28 points.

But what about Gold?

The price of Gold Rallied once again reaching almost 1,900 points at today’s high. It balanced with a gain of about 45 points for a total of $1,889 an ounce. It’s incredible how quickly Gold has risen this year. Many are claiming that it’s just a bubble and that it will burst sooner or later. The price of Gold is increasing too high, too quickly and these claims may be correct. In fact, today, Gold has seen a huge drop earlier in the day. It dropped below $1,700 and for a moment, it seemed as if it’ll keep going down. But it rallied back up just as quick.

The following graph is provided by Yahoo! Finance. This shows the huge drop in Gold price earlier today, makes the whole graph look ‘V’ shaped. I would not be surprised if the price of Gold keeps going up and eventually hits $1,900 an ounce this week. I do believe that this is a bubble and that it will burst. But I also believe that this bubble is looking strong and sturdy and it may keep growing through the coming weeks.

Price of Gold Graph

Price of Gold Graph

The banking sector isn’t really helping the economy. Bank of America (BAC) dropped almost 8% today coming near it’s 52 week low of $6.31 per share. JP Morgan Chase (JPM) dropped 0.94 points or almost 2.75% for the day. JPM reached it’s 52 week low earlier today. Citigroup (C) dropped an almost 3% as well and just like Chase, it has reached its 52 week low earlier today.

Even with the Stock Market seeing Green overall, certain companies and stocks have limited just how well the stock market has done, or should have done today.

Some stocks that have helped the stock market go into the green include Hewlett Packard (HPQ) which increased 3.6% today, after dropping 20% at the end of last week. Universal Display Corporation (PANL) rallied 24.5% today. That is a huge jump for this stock going up to $34.76. This stock has been steadily dropping over the past few weeks and have turned around today. It’s still no where near it’s 52 week high of $63.58. They’re not too far off, if they can release some more good news in the coming weeks, they should be able to rally some more.

The market today has seen its ups and downs. Some stocks have made it very hard for the overall market to rally. But today, we saw a positive score on the stock market and it was a great feeling compared to the downward movement we’ve been seeing over the past few weeks. The price of gold has rallied once again and in my opinion, it will keep going up because gold seems to be the most reliable constant in terms of value. It started the year at $1,400 and it shows no signs of stopping. But if you are looking to invest in Gold, I would advise that you very carefully think about it because if they’re right, and it is a bubble, it could burst soon because the faster a bubble grows, the quicker it explodes.

Gold Sets a New Record

The price of Gold Soared for the second day in a row and broke records once again. Today, the price of gold hit a record $1,880 per ounce. This just proves that the economy is getting even worse. During time of economic turmoil, the price of gold always rises because of the fear of a country’s own currency lowering in value.

If you think about it, Gold is actually pretty worthless to the average person. You can’t go to the local grocery store with a bar of gold and expect the cashier to accept the gold as currency. So why are people and institutions and even some countries buying enormous amounts of gold?  The simple answer may be that gold has been seen as something that’s constantly valuable throughout human history. This rare and shiny metal seems to always catch the eye of human beings. The value of gold is more trustworthy than a piece of paper (or cotton) in your hand with a dollar value on it.

What can we expect to see from gold in the coming future? If the economy doesn’t turn around, we could see the price of gold getting to new heights. Personally, I would not be surprised if I saw the price of Gold jump to over $2,000 an ounce in the near future. And if inflation keeps up, it will only drive the price of gold even higher. Even though the price of gold seems to be very high right now, it’s actually not very high if you take inflation into consideration.

Another outcome is that the gold bubble may burst. Just like a regular bubble, the price of gold (the gold bubble) is being inflated, and some believe that just like any bubble, it will burst and the price will come crashing down. Although that’s a possibility, we would need something very dramatic to happen in our global economy. As long as there are economic troubles, high jobless rates, war, and anything else bad that you can think of, the gold bubble will keep gaining more energy.

At this moment, the price of gold seems to only be going up. Gold has had the biggest rally this week since 2007. Risky investors may believe that this is a great time to invest in gold because the price will keep going up. That may be true, but it could also be that gold is about to hit a ceiling and it will come crashing down. If you are looking to invest in gold, I’d highly advise that you carefully think about it before you make a decision. It could be the best move you will ever make in your financial life, or it could be the worst.

The current price of gold is holding at under $1,850. It has been steadily dropping since the opening bell. We will have to see whether the gold rally continues into next week or whether some investors are using this opportunity to cash out.